What are the characteristics of products, how do marketers classify products

WHAT ARE THE CHARACTERISTICS OF PRODUCTS, AND HOW DO MARKETERS CLASSIFY PRODUCTS?

PRODUCT CHARACTERISTICS

AND CLASSIFICATION

Features that identify the product to the

company, the market and the consumer.

Each product is a complex of tangible and

intangible characteristics which define

the product, its use and value.

Product Characteristics

DURABILITY AND TANGIBILITY

1. NONDURABLE GOODS

2. DURABLE GOODS

3. SERVICES

CONSUMER GOODS CLASSIFICATION

• CONVENIENCE GOODS • SHOPPING GOODS • SPECIALITY GOODS • UNSOUGHT GOODS

CONVENIENCE GOODS

UNSOUGHT GOODS

SPECIALITY GOODS

SHOPPING GOODS

INDUSTRIAL GOODS CLASSIFICATION

•MATERIALS AND PARTS 1. raw materials 2. manufactured materials and parts •CAPITAL ITEMS 1. installations 2. equipment •SUPPLIES AND BUSINESS SERVICES 1. maintenance and repair items 2. operating supplies

Raw Materials

Manufactured Materials And

Parts

Capital Items

Supplies And Business Services

These slides were created by Ashish Soni, IIT

Delhi during a Marketing internship by Prof.

Sameer Mathur, IIM Lucknow (See

www.IIMInternship.com)